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Penthouse's $19 million discounted sale is a sign of a weak market


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2018 Mar 31, 12:36pm   2,102 views  5 comments

by Patrick   ➕follow (55)   💰tip   ignore  

https://www.themaven.net/mishtalk/economics/rot-starts-at-the-top-end-sweet-deal-on-19-million-discounted-ny-condo-SMqQvNJZbU-mydu24O8KTA/

Real Estate Rot Starts at The Top End

In most markets, rot starts at the periphery and eats its way to the core. With real estate, price discounting starts at the top and works its way lower.

it's highly likely we have seen the peak this cycle at the top end. The stock market is starting to crumble and other asset prices are likely to follow.

Comments 1 - 5 of 5        Search these comments

1   Ceffer   2018 Mar 31, 1:21pm  

Wow, an article by MishFuck. Haven't heard from him for a while.
2   joshuatrio   2018 Mar 31, 2:22pm  

Lol. I'm not a huge fan of Mish anymore. He's made too many wrong calls.

Homes in my neighborhood are selling in a day.
3   mell   2018 Mar 31, 2:25pm  

Maybe, but people in the SF bay area for example have been out-priced of anything but crap shacks long ago, so I think the major competition will always be around "starter" homes (i.e. crappy shacks). Also I thought the high end condo/house market has topped out a while ago.
4   HeadSet   2018 Mar 31, 8:25pm  

Penthouse's $19 million discounted sale is a sign of a weak market

Oh. I thought you were talking about a men's magazine.
5   Ceffer   2018 Mar 31, 8:27pm  

HeadSet says
Penthouse's $19 million discounted sale is a sign of a weak market

Oh. I thought you were talking about a men's magazine.


Beaver shots aren't as profitable as they used to be.

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